736 views
James Wheeler Mortgage Pro
"Buy - Refi - Modify"
- 102 Helpful Answers
- 131 Answers
- 5 Blog posts
Specialties:
First-time buyers
Government loan programs (FHA, VA, USDA) ... show more
Government loan programs (FHA, VA, USDA) ... show more
About:
Government-Approved Lender Offering FHA, VA, Conforming, Jumbo and More
Purchases * Refinancing * Reverse Mortgages * Short Payoffs & Loan Modifications ... show more
Purchases * Refinancing * Reverse Mortgages * Short Payoffs & Loan Modifications ... show more
James Wheeler Mortgage Pro answered:
The difference is typically only the policy of the company you're dealing with. The term pre-approval is considered by many to carry more legal baggage than the term pre-qualification, so its use is restricted in some quarters. Either way, it's based merely on your credit report and some unverified Q&A.
A pre-approval or prequal is generally issued by your loan officer or mortgage broker early on, to lend credibility to an offer. It does *not* go to an underwriter and is definitely not indicative of your file being processed, submitted, and conditionaly approved in underwriting. That would be an approval, not a pre-approval.
A pre-approval or prequal is generally issued by your loan officer or mortgage broker early on, to lend credibility to an offer. It does *not* go to an underwriter and is definitely not indicative of your file being processed, submitted, and conditionaly approved in underwriting. That would be an approval, not a pre-approval.
|
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
|
|
|
Founding members are a small number of participants who submitted content at launch of Trulia Voices to kick off community discussions.
|
|
|
Your question:
Max. 200 characters
Name:
Email:
|
|
Share profile
Contact James Wheeler Mortgage...
James Wheeler Mortgage... is a member of Trulia Voices:
Get the inside scoop on your area and home buying and selling.
Ask and answer questions about real estate.
Build your profile and contact home buyers, sellers and agents.
Report this profile
|
|
|
|
|||||||||||
|
|
|
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback